Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %
Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %
Chapter3: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 9MC: A company has pre-tax or operating income of $120,000. If the tax rate is 40%, what is the companys...
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Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales?
Select the correct answer.
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